Type your address into the right website and you can get an “instant offer” within minutes. These online companies, often called iBuyers, use data models to price houses and buy them directly. Local cash buyers, like me, do something similar in a more hands-on way. Sellers sometimes assume the two are interchangeable. They overlap, but they’re built for different kinds of houses and different situations.
I’m Evan Weissman. I’m a local cash buyer in Maryland, so I have a point of view here. I’ll try to be fair about where each option tends to fit, and you can check what I say by getting offers from both.
How an iBuyer offer usually works
The typical process:
- You enter your address and answer questions about the house online.
- The company’s pricing model produces a preliminary offer.
- If you move forward, they schedule an inspection or assessment.
- They adjust the offer for repairs they find.
- You pick a closing date within their available window.
iBuyers typically charge a service fee, expressed as a percentage of the price, plus closing costs. Fees and terms vary by company and market, so read the offer details carefully.
The kinds of houses iBuyers tend to buy
Because their pricing depends on data, iBuyers generally focus on houses that are easy to compare:
- Newer or well maintained homes.
- Neighborhoods with plenty of recent similar sales.
- Price ranges within the company’s limits.
- Standard construction without major structural, environmental, or title complications.
If your house fits that profile and the company operates in your area, an iBuyer can be a convenient option.
The kinds of houses local buyers tend to buy
Local cash buyers usually step in where models struggle:
- Houses needing major repairs, like a roof, foundation work, or full renovation.
- Older homes with outdated systems, lead paint, or polybutylene plumbing.
- Inherited houses still full of belongings.
- Properties with tenants, code violations, liens, or title issues.
- Rural properties, homes on wells and septic, or unusual lots.
- Situations with tight or unusual timing.
A local buyer walks the property and prices what they see, rather than adjusting a model.
Comparing the money
The headline offer is only part of the story. Compare:
- Offer amount. The starting number.
- Service fee. iBuyers often charge one; many local buyers don’t. Check both.
- Repair deductions. iBuyers commonly reduce the offer after their assessment. Ask any local buyer whether their number is firm after they’ve seen the house.
- Closing costs. Who pays transfer and recordation taxes and title charges? My article on who pays closing costs in Maryland explains the default rules.
- Net to you. Put everything into a seller net sheet to compare on equal terms.
Comparing the experience
| iBuyer | Local cash buyer | |
|---|---|---|
| First offer | Online, usually fast | After a call or walkthrough |
| Houses they focus on | Updated, easy-to-compare homes | Wide range, including major repairs |
| Fees | Often a service fee | Varies; ask |
| Changes after inspection | Common | Ask whether the offer is firm |
| Flexibility on belongings, tenants, estates | Limited | Often more flexible |
| Who you talk to | Customer service team | Usually the decision-maker |
Timing and closing flexibility
Both kinds of buyers advertise speed, but flexibility matters as much as speed. Ask whether you can pick a later date if you need time to find your next home, whether you can stay a few days after settlement, and whether the date can move if your plans change. Some sellers need a quick close; others need a specific date months away. A buyer who can only close inside a narrow window may not fit your situation, even if the offer looks good.
Also ask what happens to the deposit and the contract if the buyer’s assessment turns up something unexpected. Knowing how either side can exit the contract protects you from losing weeks on a deal that doesn’t close.
Questions to ask either type of buyer
- Is this offer final after you’ve seen the house, or could it change?
- What fees will be deducted, and who pays closing costs?
- What closing dates can you offer?
- Can I leave belongings behind?
- What happens if the inspection finds something?
- Which title company will handle closing?
- Can I have an attorney review the contract?
Get answers in writing. My guide on how to spot a real cash home buyer has more red flags and green flags.
Don’t forget the traditional option
Both iBuyers and local cash buyers trade some price for convenience and speed. If your house is in good shape and you have time, listing with an agent may net more. My article on when a listing beats a cash offer goes through the signs.
A practical approach
If your house is updated and in a neighborhood with lots of similar sales, try an iBuyer, get a local cash offer, and talk to a listing agent. Compare the net numbers. If your house needs significant work, has a tenant, or comes with an estate or title issue, a local buyer is more likely to make a firm offer, and you can still compare it to a listing estimate. See also cash buyer vs iBuyer vs listing.
Are iBuyers available everywhere in Maryland?
Not necessarily. iBuyer companies choose which markets, price ranges, and property types they serve, and that can change. Check each company’s site with your address.
Do iBuyers charge fees?
Many charge a service fee plus closing costs. The exact amount varies by company and by house, so review the offer details.
Will an iBuyer buy a house that needs major repairs?
Some may, but they typically adjust the offer substantially or decline houses with major issues. Local cash buyers often focus on these homes.
Can I get both kinds of offers and compare them?
Yes. Getting offers from both, plus a listing estimate, is a sensible way to see the full range.
Talk through your situation
If you’ve already gotten an instant offer and want a local number to compare it with, call or text me at (410) 498-7473. I’ll explain any differences in plain terms.